Search results

Thanks. So applying this rule to an actual calculation: E.g. a person is a remote employee of a non-Cyprus employer from 1 Jan till 31 Dec 2022, with a 5,000 Euro monthly salary. In 2022 the person works outside of Cyprus for 4 months and works from Cyprus for 8 months. So his income of 20,000...

Thank you CyprusLawyer101. When you refer to 0% tax on that income, do you mean all the income in that year, or only the income received in the periods when a person is outside of Cyprus? It would seem that if a person is earning the income from a foreign employer while being in Cyprus, such...

Usually one funds a company either as equity, e.g. by paying the share capital, or as debt, e.g. providing a loan to the company.

what virtual card would you recommend for such setup?

Thanks, does the salary have to be at least 19,500 Euro? Can it be less?

this is not needed. it must be mentioned on invoices only in EU-EU b2b transactions

in a B2B transaction a non-EU company (which is not registered as a VAT payer in the EU) does not include EU VAT. So just the amount payable by the EU business client is included.

I believe the UK arrangement mentioned above means that you use the UK company to invoice your end clients and collect revenues in its EMI/bank account. By agreement with the Marshall Islands company, the UK company acts as the agent to collect the revenues and sends 99% of the revenue further...

Hi, I cannot comment on Georgia. But if you are in for exotic countries, you may try Uzbekistan. You set up a local company, it pays 1% tax on revenues and 5% withholding on dividends. Search for it park uzbekistan

Hi fshore, thanks for your explanation. Do you have any recommendations for UK accountants to discuss these issues in more detail? Specifically UK company owned and run by a non-UK individuals, with employees and/or individual contractors based outside the UK. Another matter - if an EU citizen...

Hello, would the UK setup work if the same non-resident individual is both the director and sole shareholder? Would the UK tax authorities or accountants consider such salary payment as disguised dividends and deny deductibility of such salaries from company profits? I mean having a micro...

it seems this arrangement would continue to work for e.g. those engaged in software development, online marketing, content writing etc. as long as there is no management or consulting service. and the overall overall burden of 10-12% for up to 500,000 Euro income looks ok. but of course one...

without knowing the name of your home country it is difficult to share any meaningful thoughts

Thank you for a detailed explanation. Would a gain in the below scenario be exempt from tax in Cyprus? E.g. a resident of Cyprus starts working in a non-Cyprus startup company. The company pays only a minor salary, but allows to acquire its shares. After 1 year the employee leaves the company...

do they make an exception for small business run by local residents? not all small companies can meet such requirement re salary

Hello everyone, following up on this thread. Is this foreign employment income exempt both from personal income tax and from social security contributions in Cyprus? E.g. a person makes 50k Euro as salary from a non-Cyprus employer. Then the person must pay GESY of 2.65% only, or are the social...

yes, 19% on the income after deduction of expenses, so it presumably will be 19% on the 1k profit.

Greetings to everyone, Has anyone had any experience with a UK Ltd owned and managed by a sole non-UK resident? E.g. a B2B consultant wants to incorporate a UK Ltd to provide his services. No employees, possibly just a few external contractors. The same person owns 100% shares and is the sole...

Hello CyprusLawyer101, I may be interested in getting a Cyprus company with planning opportunities with 0% tax. Do you mind contacting me via PM?